The increase in the tax deduction limit on the premium to 25,000 from 15,000 and 30,000 from 20,000 for senior citizens, announced by him under 80 D, clearly indicates that his focus is on preventive healthcare and building awareness on health and wellness.

Health insurance is often looked upon as a secondary option to other investments because of lack of awareness and lower tax exemption. This initiative will incentivize the end customer and encourage them to set aside more money for insuring their families and their health and wellness. Also holistically, this will give a positive momentum to the health insurance industry.”

According to Somshubhro Pal Choudhury, Managing Director, Analog Devices India, “The 2015 budget is well balanced and sustainable with a prudent mix of fiscal discipline and much needed investment across key sectors like infrastructure along with a well thought out safety net for the poor under a financial inclusive agenda.

The positive aspects that I see immediately apparent are the reduction in Corporate Tax to 25 percent in the next subsequent years, the “MakeInIndia” initiatives with several corrections to the inverted duty structure and the national skill development mission for the tens of Millions of young Indians joining the workforce every year.

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